Trade surplus germany

Viet Nam News ĐỒNG NAI — The southern province of Đồng Nai is forecast to attain a trade surplus of US$2.6 billion this year, mostly due to rising export prices of farm produce. The province’s exports amounted to US$18.6 billion, up by 11.7 per cent, and imports totalled $16 billion, according to the Đồng Nai Province People’s Committee. The provincial authorities have taken measures to promote production of major exports such as textile and garments, footwear, electronics, farm produce, fiber, steel, machinery and equipment. Major exports from Đồng Nai include footwear (with export turnover of nearly $3.7 billion, up by 9.3 per cent); garments ($2.14 billion, up 13.7 per cent), and steel products ($724 million, up 16.8 per cent); computers and electronic components ($661 million, up 10.7 per cent), according to figures released by Đồng Nai Statistics Bureau. These products were sold to the … [Read more...] about Đồng Nai’s trade surplus to hit $2.6b

The province’s export turnover hit USD 18.6 billion during the year, a rise of 11.7 percent against 2017, with hard currency earners including garment-textiles, footwear, electrics, machinery, farm produce, steel, and fibre. Photo for illustration Commodities with large export value were footwear with USD 3.7 billion, up 9.3 percent year-on-year; steel products at USD 724 million, up 16.8 percent; garment-textiles at USD 2.14 billion, up 13.7 percent; and computers and components at USD 661 million, up 10.7 percent. The main importers of enterprises in Dong Nai are China, the US, Japan, the Republic of Korea, Belgium, Germany, and Russia. Meanwhile, the province splashed out USD 16 billion on imports, mainly materials for production such as animal feed, chemicals, plastic products, and metals. Last year, the province recorded nearly USD 2.2 billion in trade surplus, making up 77 percent of the country’s total of USD 2.7 billion. Source: VNA … [Read more...] about Dong Nai enjoys USD-2.6-billion trade surplus in 2018

This data, compiled by the World Bank, shows that the country is reaping the benefits of an open economy at a time that protectionism is on the rise, as can be seen by the U.K’s exit from the E.U. and the rising trade tensions between the U.S. and China. The figure of trade as a percentage of GDP is calculated by dividing the value of exports and imports by GDP, and the proportion of Vietnam is higher than that of China, Germany, Japan, the Philippines, Thailand and the U.S. From 2011 to 2016, world’s trade as a percentage of GDP went down from 60.5 percent to 56.2 percent, according to World Bank. In the same period, that figure in the U.S. decreased from 30.8 percent to 26.5 percent, while in China, it fell from 50 percent to 37 percent. Since the Vietnamese government began pursuing its open door policy in 1986, foreign direct investment (FDI) has flowed in, attracted by the advantage of low-cost manufacturing. Since then, Vietnam has entered many bilateral and … [Read more...] about Trade turns growth engine for globalizing Vietnam

China vows to respond if U.S. takes new steps on tradeThe Saigon Times Daily Chinese officials prepare the flags for the China-U.S. bilateral meeting at the G20 leaders summit in Hamburg, Germany July 8, 2017 – PHOTO: REUTERS BEIJING (REUTERS) - China will respond if the United States takes any new steps on trade, the foreign ministry said on Monday, after President Donald Trump warned he was ready to slap tariffs on virtually all Chinese imports into the United States. On Friday, Trump said he was ready to levy additional taxes on practically all Chinese imports, threatening duties on US$267 billion of goods over and above planned tariffs on US$200 billion of Chinese products. "If the U.S. side obstinately clings to its course and takes any new tariff measures against China, then the Chinese side will inevitably take countermeasures to resolutely protect our legitimate rights," Foreign Ministry spokesman Geng Shuang told a regular briefing, when asked about Trump's … [Read more...] about China vows to respond if U.S. takes new steps on trade

Trump could push Germany towards Russia and China, veteran diplomat saysThe Saigon Times Daily Wolfgang Ischinger, chairman of the Munich Security Conference, during Reuters interview in Berlin, Germany, May 15, 2017 – PHOTO: REUTERS BERLIN (REUTERS) - The longer Donald Trump stays in office, the higher the risk that anti-American forces will gain the upper hand in Germany and push it into the arms of Russia and China, veteran German diplomat Wolfgang Ischinger said in an interview. The chairman of the Munich Security Conference and former ambassador to Washington was speaking to Reuters days before the publication of his book “World in Danger”, in which he urges Germans not to giving up on the United States because of Trump, while also pressing them to accept more global responsibility. “The longer Trump remains in office, the harder it will be to stand up to those in this country and elsewhere in Europe who have been arguing since the Vietnam war that … [Read more...] about Trump could push Germany towards Russia and China, veteran diplomat says

A logo is seen outside the headquarters of the International Monetary Fund in Washington, DC. (AFP/Brendan Smialowski) But in a message that seemed directed largely at US President Donald Trump, the IMF once again warned against using protectionist trade measures, calling this a "slippery slope" that could harm growth without resolving the problem. In addition, Trump's own policies are driving some of the issues he has complained about: US fiscal stimulus - like the massive tax cut approved in December - "is leading to a tightening in monetary conditions, a stronger US dollar and a larger US current account deficit," the IMF said. Those are precisely the developments Trump railed against on Twitter last week, breaking with longstanding tradition to chastise the Federal Reserve for raising interest rates, which has caused the dollar to strengthen. Trump has pursued a multifront trade confrontation with key economies, especially China, but has also singled out Germany, and the … [Read more...] about IMF warns excess trade surpluses aggravate tensions

Trade revenue between Vietnam and the Group of Seven reached 113 billion USD in 2017, according to the General Customs Department of Vietnam. The figure showed an increase of 9.5 percent year on year and accounted for over one fourth of the country’s total import-export revenue. Of the figure, Vietnam’s export revenues were more than 78.9 billion USD, a rise of over 8 percent over the previous year. Meanwhile, imports from the world’s seven most powerful industrialized countries – France, Germany, the UK, Italy, Japan, the US and Canada – topped 34 billion USD, an increase of more than 12 percent. As a result, in 2017, Vietnam enjoyed a trade surplus of 44.95 billion USD with G7 countries./. … [Read more...] about Trade revenue with G7 members totals 113 billion USD

Illustrative Image (Source: VNA) Hanoi (VNA) – Trade revenue between Vietnam and G7 countries – France, Germany, the UK, Italy, Japan, the US and Canada – reached 113 billion USD in 2017,a according to the General Customs Department of Vietnam. The figure showed an increase of 9.5 percent year on year and accounted for over one fourth of the country’s total import-export revenue. Of the figure, Vietnam’s export revenues were 78.98 billion USD, a rise of 8.4 percent over the previous year and accounting for 36.7 percent of the country’s total export value. Meanwhile, imports from G7 countries reached 34.03 billion USD, an increase of 12.3 percent and contributing 16 percent to total import revenue. As a result, in 2017, Vietnam enjoyed a trade surplus of 44.95 billion USD with G7 countries. Prime Minister Nguyen Xuan Phuc of Vietnam was invited to attend the G7 Outreach Summit in Charlevoix region, Canada’s Quebec state, from June … [Read more...] about Trade revenue with G7 members totals 113 billion USD in 2017

Viet Nam made a trade surplus of US$3.39 billion in the first four months of 2018, in which foreign direct investment (FDI) sector, including fuel, took the lead with $11.17 billion. — Photo vietnambiz.vn Viet Nam made a trade surplus of US$3.39 billion in the first four months of 2018, in which foreign direct investment (FDI) sector, including fuel, took the lead with $11.17 billion. This was reported by the General Statistics Office (GSO). Meanwhile, the domestic-invested sector experienced a trade deficit of $7.78 billion in the January-April period. The country’s export turnover increased by 19 per cent year-on-year to $73.76 billion in the first four months of this year, of which the domestic-invested sector reached $20.28 billion, up 17.9 per cent, while FDI sector earned $53.48 billion, rising by 19.4 per cent and occupying 72.5 per cent of the country’s total exports. According to GSO, the United States remained the largest export market for Viet Nam during … [Read more...] about Viet Nam makes trade surplus of US$3.39bn

US President Donald Trump and German Chancellor Angela Merkel met at the White House in March 2017. (Photo: AFP/Saul Loeb) Merkel's working trip is expected to be far more business-like than this week's pomp-filled state visit by French President Emmanuel Macron, who has built a warm rapport with Trump despite stark policy differences. Trump's lavish welcome for Macron, with hugs and much back-slapping, contrasted sharply with a tense White House event in March last year in which Trump appeared to ignore Merkel's offer of a handshake. Despite Merkel's more sober style, her objective will be the same as Macron's - to persuade Trump to back off his dual threats of punitive measures that could spark a transatlantic trade war and scrapping the Iran nuclear deal. Trump last month announced tariffs of 25 per cent on steel and 10 per cent on aluminium, claiming foreign imports were harming US national security by undermining the domestic production needed for military readiness. After an … [Read more...] about Merkel heads for tough Trump talks on trade, Iran nuclear deal